IndoStar Capital Finance Limited has informed the Exchange regarding allotment of 13949323 equity shares of Rs. 10 each to BCP V Multiple Holdings Pte Ltd, promoter of the Company, against the conversion of warrants
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IndoStar Capital Finance has allotted 1,39,49,323 equity shares of Rs. 10 each to BCP V Multiple Holdings Pte Ltd, its promoter, following the conversion of warrants. This means the promoter has exercised its right to convert previously issued warrants into full equity shares. The face value of the allotment is approximately Rs. 13.95 crore, though actual funds received would be higher based on the warrant exercise price. This is part of the earlier warrant issuance scheme approved for the promoter group.
The promoter's shareholding in the company will increase, leading to a slight dilution for existing public shareholders. The capital infusion will strengthen the company's equity base and improve capital adequacy ratios, which is positive for a non-banking finance company.